When money is taken out of your paycheck for Social Security, you are in effect making payments into an annuity, the deal being that at some point you will be able to receive payments from that annuity.

How much is determined by how many dollars you (and your employer) paid in, and how long you live.

Sadly, if, say, a young, single person (lets say 50ish) dies without spouse or children, that money is gone. It does not become part of the estate. Unlike bank accounts or investment accounts, the individual cannot direct it to go to some other entity or charity, or whatever, on their passing.

I'm getting quite a Social Security education. Just turned old enough to collect something, but I am still working, so my payment would be reduced according to a formula decided by how much I still earn. If I wait till July of next year, I can get the full payment and continue to earn whatever. And for every year I hold off collecting after that, I will get an even greater monthly amount.

It is a morbid lottery. I am betting the government that I am not going to die and they are giving me odds that I will.

Ain't maturity great!!

Mark